Providing Vital Support for Cash Businesses

Bevan & Buckland AccountantsBevan & Buckland – Providing Vital Support for Cash Businesses

Supporting small to medium sized businesses has always been an important ethos for established accountancy firm Bevan & Buckland, and with news that HM Revenue & Customs (HMRC) has turned its attention to targeting cash businesses, accessing support to get your tax affairs in order has never been so important.

Independent research revealed that last year alone HMRC collected an extra £470million during tax investigations carried out specifically on small businesses and they are looking to exceed this total entirely during the year ahead, using checks such as ordering test meals and observing trade at cash businesses like restaurants and takeaways.

Investigations can be carried out over a number of days or nights and in some cases multiple teams may be deployed to monitor a business’s nightly trade. HMRC can then follow up with unannounced visits, sometimes outside normal working hours, with requests to inspect books and records to compare against their own observations.

Lee BradleyLee Bradley, Tax Director at Bevan & Buckland said:

“We are aware that visits of this nature are happening throughout the South Wales area as checks of this type help HMRC to obtain essential evidence. Methods such as ordering test meals give HMRC staff an ideal opportunity to count the number of diners and covers in a restaurant, whilst purchases of takeaway food can be noted and compared with any records supplied by the company under scrutiny.”

“Knowing your rights is an important part of the puzzle, and whilst it is important to help HMRC with their investigations, it is also vital to understand where you should draw the line. Understanding the difference between reasonable requests and when you can refuse entry or inspection isn’t easy but our tax specialists can help you decide when to say no, and detail how you should proceed when you are approached by HMRC,” concluded Lee.

Lee Bradley
Tax Director
01792 410119

email: lee@bevanbuckland.co.uk

Bevan & Buckland Accountants Swansea Tel: 01792 410100

Bevan & Buckland Accountants Haverfordwest Tel: 01437 760666

Bevan & Buckland Accountants Pembroke Tel: 01646 682383

Bevan & Buckland Accountants Carmarthen Tel: 01267 233115

Bevan & Buckland Accountants St David’s Tel: 01437 720352

Chartered Accountants, tax and financial planners Langdon House, Langdon Road, Swansea, SAl 8QY 01792410100 tax@bevanbuckland.co.uk

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